Procurement News by Country

Egypt News

Egypt economy mainly depends on agriculture, tourism and petroleum exports and media. Egypt's second biggest income source is by the traffic that goes through the Suez Canal. Egypt is also dependent upon foreign aid, and remittances from citizens working abroad in oil-rich countries. Petroleum and natural gas are produced; the principal minerals are iron ore, phosphates, salt, manganese, limestone, gypsum, and gold. The principal exports are crude and refined petroleum, cotton, textiles, metal products, and chemicals. Leading imports include machinery and equipment, foodstuffs, chemicals, wood products, fuels, and consumer goods. The chief trade partners are the United States, Italy, Germany, France, and Saudi Arabia. A series of economic and fiscal reforms undertaken in the 1990s, with support from the International Monetary Fund, appear to be having a positive effect on the country's overall economy.